New Car PCP Advice

[keith1973]

Originally Posted by mandevillepete

All done. Went in with my Carwow quote and they gave us a really good deal. Thank you for the great advice. As always dibbers came through to help and I believe saved us a lot of money. Every penny counts towards the next trip 😀

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What car did you get?

[mandevillepete]

Originally Posted by keith1973

What car did you get?

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Renault Clio and a Renault Kadjar

[keith1973]

Nice enjoy

[Floridag1rl]

Originally Posted by neilhd

I see no benefit to actually owning the car. I don't see the point in paying £30k cash for something that a year later is worth £20k or less. Better to treat the PCP as a monthly thing you budget for and change the car every 3 years. You also don't have to worry about fixing the car as it's always in warranty so will never have to pay for repairs (obviously things like tyres etc you will, but in a 3 year PCP its likely you won't need to change them due to wear and tear, only due to damage). Many places offer service plans as well.

And for what its worth we have just got rid of DWs car. The end payment was £4900. We sold it for £6800 and pocketed £1900. My parents just did a similar thing, with a year left on their PCP, they traded it early with a "profit" that went towards their next one.

My own current car will not be like this - it is worth less than the PCP fial value. The purchase price was £30000, and at the end of the term will probably be worth about £12-13000. I will have paid about £14500 in payments during this time. So I have paid less than the depreciation - the finance company is taking the hit and I will just get another car. I only ever put down small deposits (£500). Putting down a large deposit is not a good idea on a PCP as that money will not be seen again.

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I hope you don't mind me asking but what make of car did you DW have and your parents. We have had a Mercedes for years and I have never known anyone make anything on a PCP.

[neilhd]

Originally Posted by Floridag1rl

I hope you don't mind me asking but what make of car did you DW have and your parents. We have had a Mercedes for years and I have never known anyone make anything on a PCP.

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They were both Hyundais.

Mine which I won't be ahead on is an Audi.

[neilhd]

Originally Posted by mandevillepete

All done. Went in with my Carwow quote and they gave us a really good deal. Thank you for the great advice. As always dibbers came through to help and I believe saved us a lot of money. Every penny counts towards the next trip 😀

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Great!

[amberspy]

Originally Posted by mandevillepete

Renault Clio and a Renault Kadjar

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Great choice 👍👍I drive a Clio at moment but my next lease will be kadjar
Like you I’m hoping get great deal

[mandevillepete]

Originally Posted by Floridag1rl

I hope you don't mind me asking but what make of car did you DW have and your parents. We have had a Mercedes for years and I have never known anyone make anything on a PCP.

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My son bought a Ford Fiesta with a pcp and made money on it. He did very few miles. He bought it at the end and it was worth more than the final figure. It was his first car and came with insurance and servicing included.

[Bats]

Originally Posted by mandevillepete

All done. Went in with my Carwow quote and they gave us a really good deal. Thank you for the great advice. As always dibbers came through to help and I believe saved us a lot of money. Every penny counts towards the next trip 😀

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OMG you have inspired me to use CarWow now for sure.

Thanks!

Joa

[sunjue100]

Originally Posted by mandevillepete

All done. Went in with my Carwow quote and they gave us a really good deal. Thank you for the great advice. As always dibbers came through to help and I believe saved us a lot of money. Every penny counts towards the next trip 😀

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Excellent I did this with my last car , they took a screenshot of my quote at my local dealers and then beat the car wow price. My car will be 3 early next year so intending to do the same again.